JSE Launches Micro Market – Jamaica Information Service

The Jamaica Stock Exchange (JSE) has introduced a Micro Market, creating a new pathway for growth for micro and emerging enterprises.

The platform was officially launched on Tuesday (June 23) at the Terra Nova All-Suite Hotel in Kingston.

Minister of Finance and the Public Service, Hon. Fayval Williams, said that the JSE Micro Market is a bold and transformative initiative providing a structured, transparent and regulated platform for equity investment for thousands of Jamaican entrepreneurs.

“It is a new possibility that fuels resilience, unlocks opportunities, and accelerates growth across Jamaica’s micro and emerging enterprise sectors,” she noted.

She said that the Micro Market is guided by three clear objectives – to facilitate equity financing, strengthen capital market access, and create a pathway for growth.

She informed that listed companies will benefit from a full income tax holiday for the first five years, followed by a 50 per cent income tax concession for years six through 10.

“This is encouragement for businesses to step forth and be listed, be counted,” she pointed out.

Companies listed on the micro market will be able to raise between $50 million and $100 million. They must have at least 50 shareholders and a minimum of 20 per cent public participation.

“And if you are not at that size just yet, we’ve provided a sandbox for you at the JSE. In which you… can gain the experience of what it feels like, what’s required of you, what would be required of you if you list on the exchange so that when you actually list, you’re ready,” the Minister said.

The Minister informed that 10 companies have been identified for listing on the Micro Market.

Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hil, in his remarks, said that the launch of the JSE Micro Market is a “significant day for Jamaica”.

“We are closing a gap that has stood between promising small Jamaican businesses and the capital they need to grow. As Minister, I meet entrepreneurs with factory floors running, order books growing and products that can compete anywhere in the world. Yet too many must either borrow against everything they own or remain small.

“Banks want collateral they do not have, grants run out and the main and junior markets are still beyond their reach. In this gap, businesses stall, jobs are not created and export earnings never really materialise. This Jamaica Stock Exchange Micro Market closes that gap,” he said.

He noted that the financial architecture gives companies a real path to reasonable equity capital and a clear pathway to graduate to the Junior Market and beyond.

Chief Executive Officer, JSE Group, Livingston Morrison, said the initiative is an invaluable addition to the ecosystem that exists and aims to widen access to capital formation for the smallest enterprises “in a manner that is just as fair, transparent and rules-based as every other market we operate”.

Inter-American Development Bank (IDB) Group Country Representative to Jamaica, Natacha Marzolf, also welcomed the launch of the Micro Market as a strong signal of confidence in Jamaica’s financial future.

“It reflects a shared commitment to innovation, inclusion, opportunity, equity… for more Jamaican businesses to have the chance to grow and scale,” she said